{"id":75256,"date":"2023-05-16T14:01:51","date_gmt":"2023-05-16T21:01:51","guid":{"rendered":"https:\/\/www.act.com\/how-to-develop-a-small-business-sustainability-plan\/"},"modified":"2023-06-22T03:56:44","modified_gmt":"2023-06-22T10:56:44","slug":"how-to-develop-a-small-business-sustainability-plan","status":"publish","type":"post","link":"https:\/\/products.act.com\/en-gb\/how-to-develop-a-small-business-sustainability-plan\/","title":{"rendered":"How to develop a small business sustainability plan"},"content":{"rendered":"

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The year 2022 was among the warmest years on record since 1880, with temperatures reaching an average of <\/span>0.86\u00b0C (1.55\u00b0F)<\/span><\/a> above the norm for the 20th century. The reason? Human civilisation’s continuous pursuit of growth.\u00a0<\/span><\/p>\n

And it’s for this reason that you need to start thinking of sustainability, especially as a <\/span>small business owner<\/span> pursuing business growth.<\/span><\/p>\n

In fact, <\/span>65 percent of small businesses<\/span><\/a> are already implementing <\/span>sustainable business practices<\/span> to reduce their <\/span>environmental impact<\/span>.\u00a0<\/span><\/p>\n

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Image via QuickBooks<\/figcaption><\/figure>\n

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From recycling and using <\/span>renewable<\/span> materials in an effort to reduce <\/span>landfill<\/span> waste, to facilitating virtual meetings and locally sourcing resources, they’re implementing a host of techniques in their <\/span>sustainability strategies<\/span> to further their sustainable growth.<\/span><\/p>\n

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Image via QuickBooks<\/figcaption><\/figure>\n

By going sustainable, you don’t only help the environment; you also become more attractive to consumers who value <\/span>social responsibility<\/span> and consider it critically important in business. Case in point \u2014 61 percent of consumers in the US say sustainability is their main consideration while purchasing.\u00a0<\/span><\/p>\n

And guess what? Consumers are willing to pay up to 25 percent more for <\/span>sustainable products<\/span>. That means it’s possible to go sustainable without hurting your <\/span>bottom line<\/span>.<\/span><\/p>\n

So, how do you go sustainable? The first thing you need to do is create a <\/span>sustainability plan<\/span>.\u00a0<\/span><\/p>\n

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What is a business sustainability plan?<\/span><\/h2>\n

In simplest terms, a business <\/span>sustainability plan<\/span> is a roadmap that an organisation develops and follows to reach environmental and financial sustainability. It guides how the organisation sources materials, develops products, and distributes them.\u00a0<\/span><\/p>\n

The plan is aimed at doing business and growing your company without any negative impact on the environment, society, and community. It could include things like recycling, reducing waste, not using toxic materials, and upcycling, among other things.<\/span><\/p>\n

Having this plan in place is important to ensure you can hit <\/span>achievable<\/span> goals for sustainability in your small business and create a positive impact.<\/span><\/p>\n

5 Steps to create a small business sustainability plan<\/span><\/h2>\n

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Knowing what you’re aiming for with a <\/span>sustainability plan<\/span> is critical, but it’s equally important to understand best practices for creating one. Here’s the step-by-step process you can follow to learn how to create a <\/span>sustainable business<\/span>.\u00a0<\/span><\/p>\n

1. Define your sustainability goals and KPIs<\/span><\/h3>\n

Like a marketing plan, it’s crucial to identify solid <\/span>sustainability goals<\/span> from the beginning. These goals can help you align your efforts in the right direction. Without them, your <\/span>sustainability practices<\/span> will likely translate into nothing more than a marketing ploy.<\/span><\/p>\n

The other reason to <\/span>set goals<\/span> is that they’ll determine your <\/span>key performance indicators<\/span> (KPIs) and related <\/span>metrics<\/span> for measuring your progress. Some <\/span>sustainability goals<\/span> and their related KPIs could be:<\/span><\/p>\n